Posts

anti-fraud control

The Most Common Anti-Fraud Control

Carissa DeLuca, CPA, CFE Audit Manager   In the Association of Certified Fraud Examiners, Inc. (ACFE)’s Report to the Nations 2020 Global Study on Occupational Fraud and Abuse, they noted external audits of financial statements…
new tax senior
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New Tax Senior Joins WFY’s Tax Department

Our new tax senior who will be joining our Tax Department at Wright Ford Young & Co. is Queenie Qin. We are excited to have Queenie join WFY. Welcome to the team! Queenie Qin In January, Queenie Qin joined WFY as a Tax Senior.…
audit senior
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WFY Welcomes New Audit Senior

We are pleased to announce a new Audit Senior who is joining our Audit Department: Robert Caicedo. Welcome to the WFY team! Robert Caicedo Robert Caicedo joined WFY in mid-January as an Audit Senior. In 2013, Robert graduated from…
employee retention credit
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New COVID Relief Bill Expanded Employee Retention Credit Benefits

Richard A. Huffman, CPA, MST Tax Partner   The recently enacted stimulus law expands and clarifies the CARES Act Employee Retention Credit (ERTC), key details are as follows: Beginning on January 1, 2021 and through June…
hires
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Six New Hires Join WFY

Wright Ford Young & Co. would like to welcome six new hires to our firm. We have Jerry Owens and Andrew Campos joining our Audit Department; Shannon Zhu, David Pak, and Renee Qiu joining our Tax Department; and Kirsten Capps joining our…
payroll tax
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2021 Payroll Tax and Standard Auto Mileage Rate Changes

Bonnie Thompson   Beginning January 1, 2021, the following changes go into effect for the withholding of payroll taxes and reimbursement of auto mileage. SOCIAL SECURITY The wage base for withholding social security tax…
covid relief bill
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New COVID Relief Bill Signed Into Law

Richard A. Huffman, CPA, MST Tax Partner   The House and Senate passed the Consolidated Appropriations Act, 2021 (CAA, 2021) which is expected to be signed into law by the President. The CAA, 2021 bill includes the renewal…
sales tax relief
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New California Sales Tax Relief Announced for Small Businesses

Ryan Working, CPA, MST Tax Director   Back in April 2020, the Governor allowed taxpayers to apply for sales tax penalty and interest relief for 90 days for any taxpayer reporting less than $1 million in sales on their sales…
small business hiring tax credit
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Applying and Qualifying for CA Small Business Hiring Tax Credit

Cameron Lee Tax Staff   Applications have recently opened on December 1st, 2020 to apply for California's small business hiring tax credit. This past September, Governor Gavin Newsom signed SB 1447 allowing qualifying small…
proposition 19
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CA Proposition 19 and the Qualified Personal Residence Trust

Nancy Van Lanen, CTFA, EA Estate & Trust Director   The recently passed Proposition 19 in California provides expanded property tax benefits by allowing homeowners who are disabled, over 55 years of age, or whose homes…
ppp loans
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PPP Loan Forgiveness Taxability in 2020

Richard A. Huffman, CPA, MST Tax Partner Tony Maldonado, CPA Tax Senior   While the current law states forgiven Paycheck Protection Program (PPP) loans are tax-free, the Internal Revenue Service previously issued guidance…
lawyers for warriors

WFY Sponsors VLI’s Lawyers for Warriors Event

Wright Ford Young & Co. was the Title Sponsor for Veterans Legal Institute's annual Lawyers for Warriors fundraising event on November 9th. This year the event had to shift to broadcasting over live stream because of the pandemic,…